KUALA LUMPUR (Dec 30): The FBM KLCI rose for the seventh day on Friday, and stayed above the 1,500-point level for the fourth day running, in line with the gains at most global markets.
US stocks rallied on Thursday, moving the S&P 500 back in positive territory for 2011 ahead of the last trading day of the year, on more positive signals on the U.S. economy, according to Reuters.
The FBM KLCI was up 5.42 points to 1,512.11 at mid-morning, lifted by select blue chips.
Gainers led losers by 216 to 139, while 264 counters traded unchanged. Volume was 233.73 million shares valued at RM156.04 million.
At the regional markets, Japan’s Nikkei 225 rose 0.39% to 8,431.49, Hong Kong’s Hang Seng Index added 0.42% to 18,474.82, the Shanghai Composite Index gained 0.63% to 2,187.25, Taiwan’s Taiex edged up 0.10% to 7,081.62 while Singapore’s Straits Times Index shed 0.21% to 2,667.09.
BIMB Securities Research in a note Dec 30 said it may be holiday mood for many but the equity markets are determined to end 2011 with a bang.
Encouraging signs of improved economic outlook from the US and a not too shabby Italian bond auction have placed investors on a steadier platform before entering into 2012, it said.
“For now, with 2012 just around the corner such positive news would be a welcomed sight and boost sentiments hence an all round gains by European bourses,” it said.
The research house said on Wall Street, the Dow Jones Industrial Average recorded a 135 point jump to almost 12,300 or an impressive 6% year-to-date improvement.
Meanwhile in Asia, the overall performance was rather mixed with Malaysia posting another positive session registering another 2.6 points gain to remain above the crucial 1,500 level, it said.
“We presume the FBMKLCI to maintain its uptrend with 1,515 as the immediate resistance.
“Though it falls short of our 1,530 closing target for 2011 we are still pleased,” it said.
On Bursa Malaysia, BAT was the top gainer at mid-morning and rose 34 sen to RM49.94; Petronas Gas was up 10 sen to RM15.30, Guan Chong up nine sen to RM2.10, Box-Pak eight sen to RM2.31, YHS and DiGi added seven sen each to RM1.92 and RM3.85, while KLK, Sime Darby and KPJ were up six sen each to RM22.74, RM9.06 and RM4.68.
Mulpha was the most actively traded counter with 22 million shares done. The stock added one sen to 39.5 sen.
Other actives included Utopia, TMS, LFE Corp, Scomi Marine, Sanichi and Scomi.
The decliners included Batu Kawan, Sunchirin, Hunza PROPERTIES [], GAB, Theta, KrisAssets, Nestle and Esso.
US stocks rallied on Thursday, moving the S&P 500 back in positive territory for 2011 ahead of the last trading day of the year, on more positive signals on the U.S. economy, according to Reuters.
The FBM KLCI was up 5.42 points to 1,512.11 at mid-morning, lifted by select blue chips.
Gainers led losers by 216 to 139, while 264 counters traded unchanged. Volume was 233.73 million shares valued at RM156.04 million.
At the regional markets, Japan’s Nikkei 225 rose 0.39% to 8,431.49, Hong Kong’s Hang Seng Index added 0.42% to 18,474.82, the Shanghai Composite Index gained 0.63% to 2,187.25, Taiwan’s Taiex edged up 0.10% to 7,081.62 while Singapore’s Straits Times Index shed 0.21% to 2,667.09.
BIMB Securities Research in a note Dec 30 said it may be holiday mood for many but the equity markets are determined to end 2011 with a bang.
Encouraging signs of improved economic outlook from the US and a not too shabby Italian bond auction have placed investors on a steadier platform before entering into 2012, it said.
“For now, with 2012 just around the corner such positive news would be a welcomed sight and boost sentiments hence an all round gains by European bourses,” it said.
The research house said on Wall Street, the Dow Jones Industrial Average recorded a 135 point jump to almost 12,300 or an impressive 6% year-to-date improvement.
Meanwhile in Asia, the overall performance was rather mixed with Malaysia posting another positive session registering another 2.6 points gain to remain above the crucial 1,500 level, it said.
“We presume the FBMKLCI to maintain its uptrend with 1,515 as the immediate resistance.
“Though it falls short of our 1,530 closing target for 2011 we are still pleased,” it said.
On Bursa Malaysia, BAT was the top gainer at mid-morning and rose 34 sen to RM49.94; Petronas Gas was up 10 sen to RM15.30, Guan Chong up nine sen to RM2.10, Box-Pak eight sen to RM2.31, YHS and DiGi added seven sen each to RM1.92 and RM3.85, while KLK, Sime Darby and KPJ were up six sen each to RM22.74, RM9.06 and RM4.68.
Mulpha was the most actively traded counter with 22 million shares done. The stock added one sen to 39.5 sen.
Other actives included Utopia, TMS, LFE Corp, Scomi Marine, Sanichi and Scomi.
The decliners included Batu Kawan, Sunchirin, Hunza PROPERTIES [], GAB, Theta, KrisAssets, Nestle and Esso.
